UK: Residential focused, real estate asset management firm, Outpost Management, has announced the forward-funding acquisition of a 462-unit development in North Acton, London, through its joint venture with BlackRock Private Markets from developer and contractor, Tide.
The scheme is due to open in summer 2025.
The North Acton site, currently called The Castle, will be operated by Outpost Management under its Enclave brand and is the third asset to be acquired by the firm’s joint venture with BlackRock Private Markets, through its real estate business. Having already invested £500 million, the JV plans to commit an additional £500 million, totalling £1 billion of investment in UK residential assets.
It follows the successful acquisition, development and opening of Enclave: KX in London in 2022, and the acquisition of Enclave: Birmingham in 2023, where phased completion is expected from summer 2025.
Tide is delivering the project using its offsite manufacturing arm, Vision. The sale demonstrates the ongoing market appetite for Tide and Vision’s volumetric technology, which aims to deliver construction times up to 50 per cent faster than traditional builds while significantly reducing waste and carbon emissions.
The North Acton development is a 32-storey, 220,000 sq ft residential-led, mixed-use scheme, designed by HTA. It will feature 462 coliving apartments, with 18,000 square ft of amenity space across five floors, including a spa, lounge areas, private dining and coworking spaces, a library, bespoke gym, cinema and games rooms.
Residents will also be able to benefit from a 2,000 sq ft landscaped roof terrace on the 32nd floor, giving extensive views across London.
In addition, the scheme will feature a new 3,500 sq ft public house, replacing the previous pub, The Castle, which dates to the 1930s but has remained vacant since 2020.
Outpost is setting out to redefine coliving by launching what it claims to be the next generation of modern, effortless communal living, with a focus on convenience, wellness, service and connectivity.
Innovative, sustainable, life-enhancing technology will feature across the development, targeting WiredScore Platinum and BREEAM Excellent ratings.
High-speed internet will be available in all areas, and residents will be able to control their unit’s lighting and heating through a dedicated app. Utopi multi sensors will provide residents with real-time data on their energy and utilities consumption.
Troy Tomasik, founder and CEO of Outpost Management, said: “We are thrilled to have acquired this fantastic development, and proud to continue our partnership with BlackRock and deliver another market-leading scheme with Tide. Enclave is helping to transform the UK rental market by creating pragmatic lifestyle-enabling homes that empower our residents to live their own way.
“We’re excited that bringing Enclave to Acton will not only provide new homes and extensive amenities for future residents, but will also become a hub for the local community,” added Tomasik.
John Fleming, chairman of Tide and Vision, said: “The Castle is the second coliving scheme developed by Tide and purchased by Outpost Management, showing how volumetric construction is driving innovation in this asset class. We look forward to supporting our longstanding partner Outpost Management on its JV with BlackRock by delivering The Castle.
“This deal demonstrates the confidence in our volumetric product to deliver high-quality homes and cultivate new communities,” he added.
Last April, Outpost Management acquired a pre-approved 628-unit development at Lower Essex Square in Birmingham – a deal that was also brokered through its JV with BlackRock.
